Bat-Erdene is 41 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. His wife helps his business and his daughter is at the university. He conducted a taxi service business from 2004 to 2006. Since 2007, he has been in the car equipment retail business.
Currently, Bat-Erdene is well experienced in the car part selling business and the town's residents appreciates him as a diligent man. Bat-Erdene's goal is to increase the rental counter in order to expand his business. Bat-Erdene is requesting 3,000,000 MNT to buy more products to sell.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.